China’s demand for iron ore remains strong. The imports in 2025 totaled around 1.26 billion tons, up by 1.8% year on year, representing the third straight year of record-breaking volumes.

In December alone, the volume also hit a historic monthly high of nearly 120 million tons, rising by 8.2% from November.

Although domestic steel demand is still weak, the surge in December primarily reflected global miners rushing year-end shipments. This influx pushed port inventories higher, with arrivals increasing by 1.9 million tons as of mid-January. Despite the weak local market, China has now maintained monthly import levels above 100 million tons for seven consecutive months.